I'm afraid of my results this week as this was exactly the type of market that I need to outperform. So far, I have reasonable confidence that my strategy works in bull markets. I'd like more evidence to support that but the preliminary results look good. I have reasonable confidence that I do well in sideways markets as well. I have no idea what I might do in a sustained market pullback/recession/etc. The more down weeks I get under my belt the more data I'll get. Hopefully my strategy still works, otherwise it may force me to rethink what I'm doing, or at minimum, develop a strategy for downtrending markets. This week the S&P rang in a loss of 1.84%.
Wabash National Corporation (WNC) - Closed 8/23 at $10.93, closed 8/30 at $10.42 for a loss of 4.67%. This underperformed the S&P by 2.83%. Not much to comment on here, I got crushed. I opened a paper money trade on this one but it has turned to a sell for all 3 of my signals. It hasn't tripped my initial stop of $10.20 and it actually just under its 30 day SMA, but I don't like this one right now.
Chicago Bridge and Iron (CBI) - Closed 8/23 at $59.83, closed 8/30 at $59.83 for a loss of 2.51%. This underperformed the S&P by .67%. This one is also sell on all 3 of my signals. Much the same story here. I also had started a paper money trade on this one and it's the same story. It didn't trip my initial stop of $58.85 but I'm also averse to this one right now.
American Railcar Industries, Inc (ARII) - This one was the worst. Closed 8/23 at $37.41, closed 8/30 at $35.37 for a loss of 5.45%. This underperformed the S&P by 3.61%. All 3 sell signals here as well. Not much else to say.
I got crushed this week. Things don't look particularly bright for my strategy in a down market. Granted, this isn't a ton of data, but it's not a wonderful start either. The 0 for 3 showing drops my total to 11 for 20, which is not at all what I'm looking for.